Swiss National Bank Buys 900 Shares of RadNet, Inc. (NASDAQ:RDNT)

Swiss National Bank lifted its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,600 shares of the medical research company’s stock after acquiring an additional 900 shares during the quarter. Swiss National Bank owned approximately 0.17% of RadNet worth $8,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. USA Financial Formulas bought a new position in shares of RadNet during the 4th quarter worth approximately $30,000. Fifth Third Bancorp raised its holdings in RadNet by 84.3% in the 4th quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock valued at $47,000 after acquiring an additional 305 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in RadNet by 377.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the medical research company’s stock valued at $96,000 after acquiring an additional 1,063 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of RadNet by 39.1% during the 4th quarter. IFP Advisors Inc now owns 1,697 shares of the medical research company’s stock worth $119,000 after buying an additional 477 shares in the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of RadNet by 14,726.7% during the 4th quarter. AlphaQuest LLC now owns 2,224 shares of the medical research company’s stock worth $155,000 after buying an additional 2,209 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

Insider Activity at RadNet

In other news, COO Norman R. Hames sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.22, for a total value of $251,100.00. Following the completion of the transaction, the chief operating officer now directly owns 251,959 shares of the company’s stock, valued at $12,653,380.98. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cornelis Wesdorp sold 1,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.52, for a total value of $50,520.00. Following the completion of the transaction, the chief executive officer now directly owns 55,995 shares of the company’s stock, valued at $2,828,867.40. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,000 shares of company stock valued at $1,926,730. 5.12% of the stock is owned by insiders.

RadNet Stock Performance

Shares of RadNet stock opened at $49.25 on Friday. The company has a market cap of $3.65 billion, a PE ratio of -703.47 and a beta of 1.85. RadNet, Inc. has a 52 week low of $45.82 and a 52 week high of $93.65. The business has a 50 day moving average price of $58.78 and a 200-day moving average price of $67.46. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT) last issued its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. Equities analysts anticipate that RadNet, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RDNT. StockNews.com raised RadNet to a “sell” rating in a report on Wednesday. Raymond James upgraded RadNet from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Jefferies Financial Group reduced their price target on RadNet from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Truist Financial restated a “buy” rating and set a $88.00 target price (down previously from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. Finally, Barclays cut their target price on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, RadNet presently has a consensus rating of “Buy” and a consensus price target of $76.75.

RadNet Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.